EURUSD reached new high yesterday so we assume that wave 4 is already complete and that wave 5 is underway which has room for further gains, towards 1.3500 in sessions ahead. Meanwhile 1.3318 support must hold, otherwise we would assume that top is in place. From a larger perspective we need to keep in mind that wave 4 was a triangle and that triangle always occur prior to the final move of the larger pattern, which means that current leg up will sooner or later complete a bullish…

Trading currencies via online trading platforms has given unique opportunity to retail Forex traders to execute their orders with real time rates so fast and accurate. Even by applying programmed strategies it might be done faster than manual actions to click on sell/buy (soft) buttons. Technology has a key role to make a fast -actually very fast- environment for FX traders.

In this environment opening and closing positions quickly is a popular method which is known in extreme cases…

USDCAD fell sharply lower in this week from 1.0082 where pair formed a top of wave (c) as a part of a very tricky complex correction called an expanded flat. However, we need to respect the current price action which is looking impulsive to the downside. As such, we are tracking five waves down in wave C that could reach parity in the next few days, once corrective wave (iv) finds resistance, ideally around current 1.0100/1.0130 zone.…

Hi everyone

I was thinking into issuing a blog post to encourage members to blog here as we are experiencing a drop in the number of members blogging and making comments while overall traffic to the site is more or less in the same levels that were before February spike and afterwards spam attack.

I will do that post later on the day, but back to the story.... I was thinking in how to do that blog post while I saw a comment from our dear member Daologic.

Daologic posted…

Previous idea was wrong, and that was a triangle in wave [iv]. As we seen triangle trust from the wave [iv], my job is to counting five wave up, five wave down followed by three wave up before initiating shorts.

A 240 min chart showing the preferred path for this pair. A RSI also diverging, which is common in fifth and third wave affairs.…

This pair look like will be in consolidation till BOJ Interest rate decision.

My preferred primary count is complex correction of w-x-y in wave 4 in larger degree which is supported nicely by channel. Also, my alternate count is impulsive, though it would be calculated as wave A in near future, I am expecting correction is due and possibly can target 93-92 region before we rally again for 104-105 area. 104-105 area…

Keeping my primary bearish count, I am suspecting a wave 2 completed on 61.8% fibbo zone @ 8396, and expecting a strong break here to be counted as a wave 3. On alternate idea, we might see small downfall followed by rally to test resistance zone @ 8420.

Daily chart showing the clear path on long term..

Note: Primary count marked with [Black Label], while…

The Secret to Success In Foreign Exchange…  Dream Small !

Otherwise you are Kamikaze trading, and that has an Unhappy Ending!  

Beginners guess, big professional traders make it by betting the house every day. Not from what I’ve seen.

Having watched…

Deutsche Bank - "Our top Asia FX trades are:

Trade #1: Short 1Y USD/PHP

Trade #2: Short 1Y USD/CNH

Trade #3: Short SGD NEER

The Philippines peso is our favorite currency in Asia for 2013. We look for USDPHP to break below 40 in Q1 and reach 38.0 by year-end. It enjoys a solid current account position underpinned by stable remittances and BPO receipts, and a robust growth/structural reform story which continues to gather interest, and which should eventually invite a credit…

In this blog, I'm gonna explain how to use FX market reversal levels, first of all, these are strong levels where the market usually reverse its direction..

To find possible turning point during the week, I'm gonna explain easy strategy would help us entering the market correctly  without risking to much !

Before we start you may use the 15 min,30 min or 60 min chart.

Indicators: 

1- Stoch(5.3.3) , you may use any oscillator you…

Euro: 1.3052.

Technically, the Euro has now broken the major resistance trendline that we have been watching and headed towards the next resistance at 1.3083 (22 Oct high). A break of this would suggest an acceleration on towards the 17 Oct high at 1.3139 although the growing bearish divergence on the 4 hour charts is warning us of a possible reversal and thus to bring up trailing stops on long positions.  Above 1.3140, although doubtful at this point, a continuation of the rally…

Hello everyone!

Here is the turning points for this week , (19 Nov - 23 Nov) 2012

Important points and notes:

1- These levels are strong support and resistance levels on short term , the market usually respects these levels…

Hello everyone!

Here is the turning points for this week , (12 Nov - 16 Nov) 2012

Important points and notes:

1- These levels are strong support and resistance levels on short term , the market usually respects these levels…

Hello everyone!

Here is the turning points for this week , (05 Nov - 09 Nov) 2012

Note: this week I excluded USD/JPY and I added 2 new pairs , EUR/JPY and GBP/JPY, I'll continue this way the next coming weeks...

Important points…

Hello everyone!

Here is the turning points for majors,(29 Oct - 02 Nov) 2012

For more details about how to use these levels, read this blog:…

Hello everyone!

Here is the turning points for majors, the week (22 Oct  - 26 Oct) 2012 !

For more details about how to use these levels, read this blog:…

Although price action was mostly muted across the major currency pairs following notable London session moves, some logical trade setups which yielded modest profits did materialize during Monday's New York morning trading session. In this video, I review the analysis I conducted in our New York FX Training Room today which supported the cases for EUR/JPY and…

Hello everyone...

I've been using these techniques for almost a year, based on Fibonacci , high and low and momentum indicators, anyway I hope it would help intraday traders improving their performance !!!

Important points and notes:

1- These…

The Japanese yen firmed against the Australian dollar during the final European trading day of the week. The AUD/JPY price initial jumped following release of the best US consumer sentiment reading in five years, then fell 40 pips to the 80 level before the London close.

Seeking 1-on-1 mentoring?…

The EUR/JPY currency pair extended its previous London session rally during today's New York morning trading session. The euro's rise against Japan's currency ended at the pair's weekly central pivot point. The euro yen ended the European trading day near its June high.

Seeking 1-on-1 mentoring?…